WhiteWave Foods is to acquire dairy products manufacturer So Delicious Dairy Free in a US$195m deal.
So Delicious is the maker of plant-based beverages, creamers, cultured products and frozen desserts. The company had net sales of US$115m for the year ended 30 June.
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WhiteWave said the acquisition would provide it entry into the “growing” plant-based frozen dessert category.
“The acquisition of So Delicious represents a great addition to the WhiteWave portfolio and fits squarely within our strategy of driving growth in our core businesses,” said Gregg Engles, chairman and CEO of WhiteWave.
“In addition to compelling growth and product expansion potential, the extension of the So Delicious business across WhiteWave’s existing business platform, capabilities and infrastructure, is also expected to provide significant cost savings opportunities. Simply stated, we believe this is a compelling acquisition that will add a highly complementary brand to WhiteWave’s product portfolio and position us to drive additional shareholder value,” he added.
The deal is expected to close in the next few months subject to customary closing conditions.
